Tag Archives: Concessions

Redfin reports that an increase in December housing supply has led to rising vacancies, motivating landlords to lower asking rents, which fell nearly 1% from a year earlier.

As homebuyers continue to back out of the housing market, home sellers are providing concessions to help reduce the buyers’ total cost of purchasing the home, according to a new Redfin report, offering some house hunters a sense of financial relief in hopes to sell their homes quickly.

“Some buyers are asking sellers for the sun, the moon, and the stars in addition to offering below the asking price, and some are requesting no extras because they’re so motivated to secure one of the few homes on the market,” said Boise, Idaho Redfin agent Shauna Pendleton.

Thirteen percent of homes sold from December 2022 through February 2023 included a price cut and list of concessions in order to complete the deal.